In many markets across the country, the number of buyers searching for their dream homes greatly outnumbers the number of homes for sale. This has led to a competitive marketplace where buyers often need to stand out. One way to show you are serious about buying your dream home is to get pre-qualified or pre-approved for a mortgage before starting your search. Even if you are in a market that is not as competitive, knowing your budget will give you the confidence of knowing if your dream home is within your reach.Freddie Mac lays out the advantages of a pre-approval in the ‘My Home’ section of their website:“It’s highly recommended that you work with your lender to get pre-approved before you begin house hunting. Pre-approval will tell you how much home you can afford can help you move faster, and with greater confidence, in competitive markets.”One of the many advantages of working with a local real estate professional is that we have many have relationships with lenders who will be able to help you with this process.
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The Jim Brand Team